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Banks, businesses debate decriminalising dishonouring of cheques

The government wants to change the law, more so in recent months as part of reforms helping business

Topics
Cheque bounce | cheque forgery | Finance Ministry

Sudipto Dey  |  New Delhi 



cheques, banking, banks, lending, company, firms, shares, stocks, shareholding
The UK, the US, and France have made cheque bounce a non-criminal offence. | illustration: Binay sinha

A recent note by the ministry of finance seeking views from different stakeholders on whether dishonouring of a cheque should be de-criminalised has led to a raging debate. Bankers and lenders are expectedly opposed to the idea, fearing loss of deterrence, and diminishing sanctity and credibility of cheques as an instrument of transactions. A large section of the business community considers the criminal liabilities and penalties associated with dishonouring of a cheque more as an instrument of harassment by lenders.

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First Published: Sun, July 26 2020. 07:00 IST

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